🤖 #BTCLIVE - 03.09 🤖
TLDR:
Short-Term (-1 Day)
60:40- Bullish:Bearish
Mid-Term (1 Week+)
30:70
Bullish:Bearish
Long-Term (1 Month+)
80:20 - Bullish:Bearish
TECHNICAL ANALYSIS:
We are tracking at the bottom of the symmetrical triangle now, directly on the trendline support, currently showing a TD7 formed - currently diminishing volume. Breaking down on the triangle can lead to a much bigger drop with the significant support needing to hold sitting at $19.5k - key bear targets are sitting at $18.8 that are very achievable although I am expecting huge buys to appear any where between $20k and and $18.8k that could turn the tide to bullish quite easily. Although I am slightly bullish for the short term and don't think we will break down on this test yet so a bullish target of $20.2k before a bigger sell off I feel is very achievable from here.
General sentiment in the market with the Mt.Gox news and ETH merge dropping in September are looking like they could be leading to a sell off, coupled with the heavily bearish sentiment attached to September $18.8k wouldn't be too surprising.
Technical Analysis Bullish Factors:
+ Bullish Divergence on the 1D
+ Bullish Descending wedge on the 1D
+ Oversold on the Weekly
+ Reversal signal on the Weekly
+ Wave Dip signal on the daily
+ Bullish Weekly Pivot
+ Slightly Bullish Daily POC
+ TD7 coming into Trendline support
Technical Analysis Bearish Factors:
- Broken local support
- Ranging in bearish symmetrical triangle
- Big rejection from the 200EMA
- Broke the HullMA
NEWS:
Bull:
+
Bear:
- Sept 13: CPI data
- Sept 15: $ETH merge expected sell off
- Sept 16: Mt. Gox Claims Deadline
- Sept 21: FOMC rate hike decision
- Sept 22: $ADA Vasil Hardfork
- stocks.apple.com/AGT...9EBcwGSiO3dQO_vqEm5Q
Russia cuts off gas exports to Europe via Nord Stream indefinitely
METRICS (Last 24 hours):
EXCHANGE:
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure.
Last Value:
2,316,182.55
24H%:
0%
7D%:
+1%
+ TURNED POSITIVE
+ Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower selling pressure.
Last Value:
982.3029
24H%:
+157%
MINERS:
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
Moderately selling
Last Value:
1.7051
24H%:
-364%
+ Puell Multiple - Miner's revenue is decreasing significantly compared to the cost they put in. This could indicate that price is undervalued along with the increasing miner's motive to hold their coins.
Low revenue
Last Value:
0.44632367
24H%:
-5%
ON-CHAIN:
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
Realizing loss
Last Value:
0.97674869
24H%:
+1%
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
Low long-term holders' movement
Last Value:
0.42857142
24H%:
-
- Net Unrealized Profit and Loss (NUPL) -Investors are in a Capitulation phase where they are currently facing unrealized losses. It indicates the decreasing motive to realize loss which leads to a decrease in sell pressure.
Captulation
Last Value:
-0.0921114
24H%:
+12%
- Transfer Volume - The total number of coins transferred has decreased by -65.00% compared to yesterday.
- Active Addresses -The number of active wallets used to send and receive coins has decreased by -38.00% compared to yesterday.
+ Transactions - The total number of transactions has decreased by -39.00% compared to yesterday.
INVESTOR SENTIMENT
+ TURNED POSITIVE
+ Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
DERIVATIVES
TURNED POSITIVE -
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
Last Value:
-0.00504039
24H%:
+578%
+ Taker Buy Sell Ratio - Buying sentiment is dominent in the derivatives market. More buy orders are filled by takers.
Buy:
0.51493069
Sell:
0.48506931
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend
Last Value:
8,672,447,353.18
24H%:
+5%
7D%:
+3%
- Liquidation - 5861915.48 of long positions were liquidated in the last 24 hours.
Long:
5,861,915.48
Short:
772,838.74
MARKET SENTIMENT:
Fear & Greed Index - Sep 03, 2022:
Today: 21 (Extreme Fear)
Yesterday: 25 (Extreme Fear)
Avg. 1W: 24 😱
Avg. 2W: 26 😱
Avg. 1M: 32 😣
Avg. 2M: 29 😱
Avg. 3M: 23 😱
Avg. 6M: 24 😱
Avg. 1Y: 33 😣
🔸 #Bitcoin
Price: $19,969
24h Low: $19,771
24h High: $20,428
MC Change: -$3.2B (-0.8%)
Dominance: 37.4%
24h: -0.9%
7d: -1.5%
14d: -4.7%
30d: -12.6%
60d: -1.4%
200d: -53.2%
1y: -59.5%
TLDR:
Short-Term (-1 Day)
60:40- Bullish:Bearish
Mid-Term (1 Week+)
30:70
Bullish:Bearish
Long-Term (1 Month+)
80:20 - Bullish:Bearish
TECHNICAL ANALYSIS:
We are tracking at the bottom of the symmetrical triangle now, directly on the trendline support, currently showing a TD7 formed - currently diminishing volume. Breaking down on the triangle can lead to a much bigger drop with the significant support needing to hold sitting at $19.5k - key bear targets are sitting at $18.8 that are very achievable although I am expecting huge buys to appear any where between $20k and and $18.8k that could turn the tide to bullish quite easily. Although I am slightly bullish for the short term and don't think we will break down on this test yet so a bullish target of $20.2k before a bigger sell off I feel is very achievable from here.
General sentiment in the market with the Mt.Gox news and ETH merge dropping in September are looking like they could be leading to a sell off, coupled with the heavily bearish sentiment attached to September $18.8k wouldn't be too surprising.
Technical Analysis Bullish Factors:
+ Bullish Divergence on the 1D
+ Bullish Descending wedge on the 1D
+ Oversold on the Weekly
+ Reversal signal on the Weekly
+ Wave Dip signal on the daily
+ Bullish Weekly Pivot
+ Slightly Bullish Daily POC
+ TD7 coming into Trendline support
Technical Analysis Bearish Factors:
- Broken local support
- Ranging in bearish symmetrical triangle
- Big rejection from the 200EMA
- Broke the HullMA
NEWS:
Bull:
+
Bear:
- Sept 13: CPI data
- Sept 15: $ETH merge expected sell off
- Sept 16: Mt. Gox Claims Deadline
- Sept 21: FOMC rate hike decision
- Sept 22: $ADA Vasil Hardfork
- stocks.apple.com/AGT...9EBcwGSiO3dQO_vqEm5Q
Russia cuts off gas exports to Europe via Nord Stream indefinitely
METRICS (Last 24 hours):
EXCHANGE:
- Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure.
Last Value:
2,316,182.55
24H%:
0%
7D%:
+1%
+ TURNED POSITIVE
+ Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower selling pressure.
Last Value:
982.3029
24H%:
+157%
MINERS:
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
Moderately selling
Last Value:
1.7051
24H%:
-364%
+ Puell Multiple - Miner's revenue is decreasing significantly compared to the cost they put in. This could indicate that price is undervalued along with the increasing miner's motive to hold their coins.
Low revenue
Last Value:
0.44632367
24H%:
-5%
ON-CHAIN:
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
Realizing loss
Last Value:
0.97674869
24H%:
+1%
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
Low long-term holders' movement
Last Value:
0.42857142
24H%:
-
- Net Unrealized Profit and Loss (NUPL) -Investors are in a Capitulation phase where they are currently facing unrealized losses. It indicates the decreasing motive to realize loss which leads to a decrease in sell pressure.
Captulation
Last Value:
-0.0921114
24H%:
+12%
- Transfer Volume - The total number of coins transferred has decreased by -65.00% compared to yesterday.
- Active Addresses -The number of active wallets used to send and receive coins has decreased by -38.00% compared to yesterday.
+ Transactions - The total number of transactions has decreased by -39.00% compared to yesterday.
INVESTOR SENTIMENT
+ TURNED POSITIVE
+ Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
DERIVATIVES
TURNED POSITIVE -
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
Last Value:
-0.00504039
24H%:
+578%
+ Taker Buy Sell Ratio - Buying sentiment is dominent in the derivatives market. More buy orders are filled by takers.
Buy:
0.51493069
Sell:
0.48506931
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend
Last Value:
8,672,447,353.18
24H%:
+5%
7D%:
+3%
- Liquidation - 5861915.48 of long positions were liquidated in the last 24 hours.
Long:
5,861,915.48
Short:
772,838.74
MARKET SENTIMENT:
Fear & Greed Index - Sep 03, 2022:
Today: 21 (Extreme Fear)
Yesterday: 25 (Extreme Fear)
Avg. 1W: 24 😱
Avg. 2W: 26 😱
Avg. 1M: 32 😣
Avg. 2M: 29 😱
Avg. 3M: 23 😱
Avg. 6M: 24 😱
Avg. 1Y: 33 😣
🔸 #Bitcoin
Price: $19,969
24h Low: $19,771
24h High: $20,428
MC Change: -$3.2B (-0.8%)
Dominance: 37.4%
24h: -0.9%
7d: -1.5%
14d: -4.7%
30d: -12.6%
60d: -1.4%
200d: -53.2%
1y: -59.5%
